Solazyme Reports Second Quarter 2013 Results

Solazyme, Inc. (NASDAQ: SZYM), a renewable oil and bioproducts company,
announced results today for the second quarter ended June 30, 2013.

In addition, please refer to the documents that Solazyme, Inc. files with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the quarter ended March 31, 2013, for a discussion of these and other risks. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. Solazyme is not under any duty to update any of the information in this press release.

SOLAZYME, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

In thousands, except per share amounts

(UNAUDITED)

Three Months Ended June 30,

Six Months Ended June 30,

2013

2012

2013

2012

Revenues

Research and development programs

$

6,260

$

9,468

$

8,940

$

19,028

Product revenues

4,915

4,077

8,915

8,073

Total revenues

11,175

13,545

17,855

27,101

Costs and operating expenses (1)

Cost of product revenue

1,496

1,330

2,950

2,576

Research and development

14,915

18,381

28,635

33,742

Sales, general and administrative

15,436

13,723

30,302

27,779

Total costs and operating expenses

31,847

33,434

61,887

64,097

Loss from operations

(20,672

)

(19,889

)

(44,032

)

(36,996

)

Other income (expense) (2)

Interest and other (expense) income, net

(1,439

)

309

(2,962

)

636

Loss from equity method investment

(2,222

)

(510

)

(3,181

)

(510

)

(Loss) gain from change in fair value of warrant liability

(679

)

851

(625

)

851

Loss from change in fair value of derivative liability

(813

)

-

(1,550

)

-

Total other income (expense)

(5,153

)

650

(8,318

)

977

Net loss

$

(25,825

)

$

(19,239

)

$

(52,350

)

$

(36,019

)

Net loss per share, basic and diluted

$

(0.42

)

$

(0.32

)

$

(0.85

)

$

(0.60

)

Weighted average number of common shares used in loss per share computation, basic and diluted